Alternative Investments
What Is First-Loss Capital? Junior Tranches Explained
First-loss capital is the layer of a structured deal that absorbs every dollar of loss before senior investors take any hit. In a standard collateralized loan obligation (CLO), that layer is the unrat
Jeff Barnes, MBA··13 min read
Venture Capital
If You Can’t Explain Your Capital Stack Simply, Don’t Expect Trust.
If You Can’t Explain Your Capital Stack Simply, Don’t Expect Trust In private deals, your capital stack is not just a financing structure. It is a trust test. If it takes you ten minutes, a
Jeff Barnes, MBA··7 min read